Sun Capital Partners has sold K.K. Tarami, a Japan-based maker of fruit and fruit-flavored gelatin cups, to a private equity subsidiary of Mitsubishi UFJ Lease & Finance Company Ltd. No financial terms were disclosed. Sun acquired Tarami in April 2007, as its first-ever Japanese acquisition.
PRESS RELEASE
Sun Capital Partners, Inc. (“Sun Capital”), a private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliated portfolio companies, Tarami K.K. (“Tarami”) has been purchased by MUL Principal Investments Company Limited (“MULPI”), a private equity investment subsidiary of Mitsubishi UFJ Lease & Finance Company Limited. Mizuho Securities Co., Ltd. served as the financial advisor to Sun Capital. Terms of the transaction were not disclosed.
Founded in 1971 and headquartered in Nagasaki, Japan, Tarami is an industry pioneer in processing fruit and fruit-flavoured gelatin cups. Tarami’s “Fruit Jelly” products are offered in eight and five ounce cups under its own brands such as “Kudamonoyasan”, “Kajitsu-no-jikan”, and “Dossari” and are sold through five major channels in Japan, i.e., supermarkets, grocery stores, major convenience stores, fresh fruit retailers, and private brands (such as “Dole”).
Brian J. Urbanek, Principal, Sun Capital Partners, Inc., added, “We would like to thank Tarami’s management team for an outstanding job and for their contribution to the success of our leveraged buyout funds. Since our acquisition of Tarami in April 2007, our team of operators has worked closely with Tarami’s management team in reducing costs and re-focusing the Company’s marketing effort while introducing new products. During the period of Sun Capital’s ownership, sales grew approximately 40% and LTM EBITDA increased 246%. We wish our team at Tarami every success with MULPI Principal Investments Company Limited.”
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market–leading companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in and managed over 205 companies worldwide with combined sales in excess of $40.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Shenzhen, and Shanghai. Sun Capital has been one of the most active private investment firms in the U.S., closing 161 transactions from 2002 through 2008, including 30 acquisitions in 2005, 33 transactions in 2006, 39 transactions in 2007 and 26 transactions in 2008 and was the recipient of the Buyouts Magazine’s “Turnaround of the Year – 2009” and the M&A Advisors’ “Private Equity Firm of 2008” award. For more information, please visit www.SunCapPart.com.